The Cambria freeman. [volume] (Ebensburg, Pa.) 1867-1938, 1887-12-16

purchased at any price, and tbat COM
binations among holders who are Will
ing TO sell may unreasonably enhance
the cost OF such bonds 10 the Govern
ment.
II has been suggested that the present
bonded debt might be refunded at less
rate OF interest, and the difference be-
tween the old and new security paid in
cash. thus finding use for the surplus in
the Treasury. The success Of this
plan, il Is apparent, must depend upon
the volit:on o: the holders of the present
bonds and it is not entirely certain
that the inducement which must be
offered them would result in more
financial benefit to the Government
than the purchase Of bonds. while tie
latter proposition would reduce the prin-
cipal of the debt by actual payment, in
stead of extending it.
The proposition to deposit the money
held by the Government in banks
throughout the country, for use by the
people, is. it seems TO me, exceedingly
Objectionable in principle, as establish
ing too close a relationship between the
operations of the Government Treasury
and tie business of the country, and too
extensive a commingliug of their money.
thus fostering an unnatural reliance in
this scheme should be adopted it should
only be done as temporary expedient
to meet an urgent necessity. Leglsla-
tive and executive effort should gener-
ally be in the opposite direction and
should have a tentency 10 divorce, as
much and as fast as can safely be done,
the Treasury Department from private
enterprise.
OF course 1t Is not expected that un-
Necessary and eXtravagant approprla-
tions will be made for the purpose of
avoiding the accumulation of an excess
of revenue. Such expenditure, beside the
generalization OF all lust conceptions Of
public duty which it entails, stimulates
a habit Of reckless improvidence not in
the least consistent with the mission of
our people or the high and beniicent
purposes CT our Government.
have deemed il my duty to thus
bring to the knowledge of my country
men. as we'll as to the attention of their
representatives charged with the re-
sponsibility OF Legislative relief, the
gravity Of our financial situation. The
failure of the Congress beretofors ID pro-
vide against the dangers which il was
quite evident the very nature of the
difficulty must necessarily produce,
caused condition of financial distress
and apprehension since your last ad-
jourument, which taxed TO the utmost
al. the authority aud expedlents within
executive control; and these appear
now to be exhausted. If disaster results
from the continued inaction of Con-
gress, the responsibility must rest where
il belongs.
Though the situation thus far consid-
cred is fraught with danger which
should be fully realized. and though i:
presents features Of wrong to the people
as we'll as peril 10 the country, it is but
a result growing cut of perfectly pala-
bic and apparent cause, constantly re-
producing the same alarming circum-
stances-a congested national treasury
and depleted monetary condition IL
the business of the country. 1t neeG
hardly be stated that while the present
situation demands a remedy, we can
orly be saved from like predicamsnt
in the future by the removal of its
cause.
Our scheme for taxation, by means of
which this needless surplus is taken
from the people and put into the public
treasury. consists of tariff or duty
LEVIED upon impOrtatioDs from abroad,
and inteTna.-Tevenue taxes levied upon
the consumption of tobacco and spiIitu-
Gus and malt liquors. 1t must be con-
ceded that none nj the things subjected
TO internal-revenue taxation, are strict
ly speaking, necessaTies there appears
to be no just complaint of this taxation
by the consumers Of these articles. and
there seems TO be nothing 50 well able
to bear the burden without hardship to
Any portion of the people.
H-,,-,y,r-- =, ,,yrsrs ,,r.s
But our present tariff laws, the VIC
ious, inequitable, and illogical source
of unnecessary taxation, ought TO be at
once revised and amended. These laws,
as their primary and pIain effect, raise
the price 10 consumers of all articles
imported and subject to duty, by pre-
cisely the sum paid for such duties.
Thus the amount of the duty measures
the tax paid by those who purchase for
use these imported articles. MANY of
these things. however, are raised or
manufactured in our own country, and
the duties now levied upon foreign goods
and products are called protection to
these home manufacturers, because they
render il impossible for those of our
people who are manufactures, to make
these articles and sell them for d price
equal 10 that demanded for the import
ed goods that have paid customs duty.
So iI happens that while comparitiyely
a few use the imported articles. millions
OF cur people, who never use and never
saw any of the foreign products, pur-
chase and use things OF the same kind
made in this country and pay therefor
nearly or quite the same enhanced price
which the duty adds TO the imported
articles. Those who buy imports nav
the duty charged thereon into the pub
lie treasury, hut the great majority OF
our citizens. who buy domestic articles
OF the same class, paw a sum at least
approximately equal to this duty to the
home manufacturer. This reference TO
the operation OF our tariff laws is not
made by way of instruction, but in or
der that We may be constantly reminded
of the manner IN which they impose a
burden upon those who consume do
nestle products as well rs those who
consume imported articles, and thus
create tax upon all our people.
1t IS not proposed TO entirely relieve
the country OF this taxation. 1t must
be extensively continued as the source
OF the Governments income; and in a
readjuStmen. of cur tariff the interests
OF American labor engaged in manufac-
ture should be carefully considered. as
well as the preservation of our manu-
factuTers. 1t may be called protection.
or by any other name, but relief rom
the hardships and dangers of our pre-
sent tariff laws should be devised with
especial precautiOn against imperiiipp
the existence of our notwithstanding ia
teTests. But this existence should nos
mean condition which, without re-
gard IN the public welfare or a national
a a